Debt consolidation secured loans for poor credit or bad credit history applicants. Find secured loan brokers specialising in secured loans for debt consolidation. Find advice, information and guides on secured loans for the self employed, discharged bankrupts, IVA secured loans, secured loans with CCJs, information on debt consolidation, poor credit and bad credit secured loans, advice on secured loan arrears, guides on self employed secured loans, secured loans with county court judgements and solutions for poor credit secured loans through specialist secured loan brokers.

Since the mid 1990s, most people's homes have gone up in value - often quite considerably. This means that if you bought your home a few years ago you could have a good deal of equity tied up in your property. Equity is the difference between what your house is worth at the moment, and the size of the mortgage you took out when you first bought it.

If you have equity in your home, you can release some or all of this cash by taking out a secured loan (also known as a homeowner loan). When you take out a secured loan with the intention of using the equity to pay off other, unsecured, debts (such as personal loans and credit cards), this is known as a debt consolidation secured loan or a debt consolidation homeowner loan.

Debt consolidation secured loans can, depending on the situation, be a useful option for people who own their own home and who are struggling to keep up with the repayments on a variety of personal loans, credit cards, store cards, and other credit agreements.

A debt consolidation secured loan can often mean you end up paying out less per month than you do at the moment for all your combined repayments on loans, credit cards, and hire purchase agreements. This is because the interest rates on debt consolidation secured loans are usually lower than the interest rates on unsecured borrowing.

The drawback of consolidating your unsecured debts with a debt consolidation secured loan is that you may end up paying more in interest in the longer term. This is because most personal loans and credit card debts are paid off within five years.

But for a secured loan, the time over which the loan has to be repaid will vary from as little as three years up to a usual maximum of 25 years. This compares very favourably with some other forms of borrowing, where repayment times can be very much shorter. And of course, the less time you have to repay the loan, the higher repayment sums must be each month. But of course, the longer the repayment term, the more you will pay overall, because of the extra amount of time you'll be paying interest on the loan for.

So when you are thinking about applying for a debt consolidation secured loan, you need to weigh up the pros and cons and decide what's most important to you. Do you want to have lower monthly outgoings now, but perhaps pay more interest in the long run - or can you afford to keep your monthly outgoings at their current level and thus pay off your debts earlier?

As with any decision that involves a big financial commitment like a secured loan, it makes sense to take expert advice from someone who knows the secured loan market well.

You can use our online enquiry form to find a secured loan broker who can offer help and advice on debt consolidation secured loans. Just complete the no-obligation confidential form and we will get a debt consolidation secured loan specialist to contact you and talk through the options with you.